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Underwriting Bulletin 77
March 17, 2008
IMPORTANT CLAIM HANDLING INFORMATION:
UNIVERSAL'S PREFERRED VENDOR PROGRAM!
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At Universal North America, we set out to be partners with our agents for the long haul. That means we strive to have the best available products. Plus, we’re here 24/7 if your clients have a loss.
During the time of a loss, Universal has emergency service vendors readily available. Working closely with these contractors, we can assess the need and pay out fair mitigation costs for all involved. Our vendor program is designed to assist homeowners as soon as possible after damage or loss occurs. Our full service
vendors not only perform water extraction and temporary board ups, but also will work to reconstruct homes to pre-loss conditions. All work has a two-year guaranteed warranty on the repairs. While this service is not needed by every homeowner, it is the type of exemplary service you can expect from Universal North America.
Beware of unsolicited vendors
As an agent, you want to keep your loss ratios low to positively affect your bottom line.Naturally, loss ratios are directly tied to the amounts that are spent on emergency services as well as reconstruction costs.
Agents are solicited on a regular basis by vendors who provide emergency services. Unfortunately, many of those vendors charge exorbitant prices in times of duress. In many cases, the costs of mitigation far exceed what it would have cost to simply tear out and replace items. Once work is complete, a bill is submitted to the homeowner for payment and nothing can be disputed at that point. These emergency service vendors can seriously affect your loss ratio and also leave the homeowner in far worse condition than before the loss.
We have seen cases where liens were attached to a homeowner’s property because of disputed amounts. In those situations, we are left with no other choice but to pay these costly charges because they have already been incurred.
Preferred vendors offer fair, prompt service
These costly situations can be avoided by using contractors on our preferred vendor list. These include:
Full service:
· Disaster Kleen-up, Inc. (DKI)
· ServiceMaster
Water mitigation only
· Rytech (FL)
Preferred contractors have special training in Universal claims procedures and guidelines. Adjusters are able to work very closely with these vendors through every step of the mitigation process. Charges from a preferred vendor have to be approved by the adjuster before any payment is issued. In fact, Universal will not pay a vendor directly if we do not have a signed authorization form as well as a certificate of satisfaction from the customer. This protects you and the homeowner.
More information about our preferred vendors and their levels of service is available on our website,
www.universalnorthamerica.com
under “Restoration Vendors.”
Help us help you
If vendors are not listed on Universal's vendor list, we cannot ensure the level of service nor the charges that may be incurred. Our goal is to ensure the satisfcation of your homeowners as well as help you achieve positive financial and customer services outcomes.
As always, thank you for this opportunity to better serve you!
If you have any questions, please contact your Area Field Representative.
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